Assistant Financial Accountant (Re-advertisement) – Rhodes University | Full Job Overview
The Assistant Financial Accountant position at Rhodes University is a senior finance role within the institution’s Finance Division. It is based in Makhanda, Eastern Cape, and focuses on financial reporting, budgeting, compliance, audit coordination, and statutory financial management.
This role is not an entry-level accounting job. It requires significant experience in financial reporting systems, higher education finance structures, and regulatory compliance.
Core Purpose of the Role
The primary responsibility of this position is to ensure accurate and compliant financial management within the university by:
- Preparing and supporting annual financial statements
- Managing general ledger integrity
- Assisting with budgets and variance analysis
- Supporting audits and statutory reporting
- Ensuring compliance with financial legislation and reporting frameworks
In simple terms, this role ensures that the university’s financial records are accurate, transparent, and compliant with national and international standards.
Key Responsibilities Explained in Detail
1. Financial Reporting and Annual Statements
A major part of the role involves preparing financial information for annual reporting. This includes:
- Extracting supporting schedules for financial statements
- Preparing project-related financial reports
- Ensuring compliance with IFRS (International Financial Reporting Standards)
- Supporting year-end financial close processes
This function ensures that institutional financial reports are accurate and audit-ready.
2. General Ledger Management
The assistant financial accountant is responsible for maintaining the general ledger system, including:
- Ensuring correct account coding structures
- Monitoring data integrity
- Reconciling financial accounts
- Supporting month-end closing procedures
This is critical for maintaining reliable financial records.
3. Budgeting and Variance Analysis
The role includes supporting the budgeting process by:
- Preparing annual budgets
- Analysing budget vs actual performance
- Investigating financial variances
- Reporting findings to finance leadership
This helps the university manage spending effectively and plan future allocations.
4. Audit and Compliance Support
A key part of the job is coordinating audit activities, including:
- Preparing audit working papers
- Liaising with internal and external auditors
- Ensuring documentation is complete and accurate
- Addressing audit findings and queries
This ensures compliance with financial governance standards.
5. Tax and Regulatory Reporting
The role also involves statutory reporting, including:
- VAT calculations and submissions
- SARS-related financial documentation
- Statistical reporting to government bodies such as DHET and Statistics South Africa
- Reserve Bank reporting requirements
This ensures compliance with South African financial regulations.
6. Fixed Assets and Inventory Accounting
The position includes managing asset-related accounting processes such as:
- Fixed asset registers
- Depreciation calculations
- Inventory accounting and control
- Asset verification and reconciliation
Required Skills and Experience
Technical Requirements
- Advanced accounting knowledge (IFRS required)
- Strong Excel and accounting system skills
- Experience with general ledger systems
- VAT and tax compliance knowledge
- Audit preparation and coordination experience
Personal and Professional Skills
- Strong analytical ability
- High attention to detail
- Ability to work under pressure and meet deadlines
- Strong organisational skills
- Clear communication skills
- Ability to supervise or guide junior staff
Minimum Requirements
Applicants must meet the following criteria:
- Bachelor’s degree or Advanced Diploma (NQF Level 7) in Accounting or Auditing
- Approximately 6 years’ experience in financial accounting and reporting
- At least 3 years experience preparing annual financial statements
- Experience in budget preparation and variance analysis
- Experience in audit coordination
- Minimum 2 years supervisory experience
- Knowledge of VAT and SARS processes
Advantageous Experience
Candidates with the following will have an advantage:
- Experience in higher education financial systems
- Knowledge of DHET, SARB, and Statistics South Africa reporting
- Experience in restricted vs unrestricted fund accounting
- Advanced fixed asset and inventory accounting experience
Work Environment
This role operates within a structured academic finance environment, which is:
- Highly regulated and policy-driven
- Deadline-sensitive (especially year-end reporting)
- Audit-intensive
- Data-heavy and detail-oriented
It requires consistency, accuracy, and strong financial discipline.
Why This Role is Important
Within Rhodes University, this position plays a key role in ensuring financial transparency and accountability.
The job ensures:
- Accurate financial reporting to government and regulatory bodies
- Proper use and tracking of university funds
- Compliance with financial laws and reporting frameworks
- Smooth audit processes
- Reliable budgeting and financial planning
Without this role, the university would face significant compliance and reporting risks.
Career Growth Opportunities
This position can lead to several senior finance roles such as:
- Senior Financial Accountant
- Finance Manager
- Financial Controller
- Director of Finance
- Internal Audit Specialist
It is a strong career path for professionals in public sector finance and higher education accounting.
Final Insight
The Assistant Financial Accountant role at Rhodes University is a highly technical and responsibility-heavy position suited for experienced finance professionals. It demands precision, regulatory knowledge, and strong analytical ability.
It is not just an accounting role—it is a governance and compliance position that supports the financial credibility of a major academic institution.
